In recent weeks, two courts ruled on motions to dismiss the first wave of class action lawsuits based on alleged price optimization of auto insurance rates. In both Stevenson v. Allstate Ins. Co., No. 15-cv-04788 (N.D. Cal....more
Nearly one-third of the U.S. states have now issued directives on the use of price optimization to determine insurance rates and, to date, most states have taken a skeptical view of the practice. Meanwhile, at the national...more
We wish to call attention to a disturbing trend, that even in the highly regulated field of personal lines coverage, homeowners and auto policies, the insurance industry is engaged in courses of conduct designed to write...more
Rhode Island’s Rhode Island Department of Business Regulation (“DBR”) has joined the growing list of state insurance regulators to issue a bulletin on the practice of price optimization. On September 18, 2015, the DBR issued...more
Yesterday California Insurance Commissioner Dave Jones became the latest voice in a growing chorus of state insurance regulators who condemn the use of “Price Optimization” as a mechanism for adjusting property-casualty...more